Published On: Fri, Apr 27th, 2012

SBI Japannext Phase II NASDAQ OMX X-Stream INET System Details

Key Dates
Target production live date – September 24, 2012
Go or no go announcement to all members – September 23, 2012 (by 13:00 JST)
Market wide testing for all members – September 22, 2012
Weekend production testing schedule

September 15, 2012
September 8, 2012
September 1, 2012

User acceptance testing environment (UAT):
* Available starting June 30, 2012
* The ITCH and OUCH protocols will be available along with our standard FIX protocol

Note:
Based on input from participants’ development and evaluation time requirements, we have decided to release the OUCH protocol in production environment on January 15, 2013 to give our members and participants sufficient time to digest this new protocol in Japan.

Phase II NASDAQ OMX X-Stream INET System Details
Matching engine performance:
* Matching rate: 80,000 messages/second
* Latency: sub 100 microseconds
* Matching engine to ITCH host: sub 100 microseconds

Standard service for all members:
* Shared FIX gateway latency: sub millisecond
* Protocol: FIX 4.2

Premium service (additional cost):
* Dedicated FIX host, total round trip latency: sub millisecond
* Protocol: FIX 4.2

Benefits:
o Predictable latency
o No per session charges
o Will be able to convert to OUCH host on January 15, 2013 (free of charge)

Market data:
*Protocol: NASDAQ OMX ITCH
* Dissemination: Multicast/TCP within co-location or TCP for remote connections
* All members and participants who subscribe directly must migrate to the ITCH protocol by the end of the year
* For those who subscribe to market data vendors, please contact your market data vendor account managers for any changes required (we see no changes)
* MMTP protocol will be terminated on March 31, 2013

Order entry:
* Current FIX 4.2 protocol will continue to be fully supported
* The NASDAQ OMX OUCH protocol (January 15, 2013)

Our IT team will contact all members and participants for technical meetings and conference calls to go over the details one by one before June 30, 2012. IT communication package will be sent out to members and participants shortly. If you wish to know more details before your scheduled meeting, please feel free to let us know.

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